New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-03-02
SAYINGS BANKS AND TRUST COMPANIES.


DIGEST OF THE REPORT OF THE BANK sUPERIN-
TENDENT.
ALBANY, March LIT appears from the annual re-
port of the superintendent vt the Banking Depart
ment, which sent to the Legislature today, that
the aggregate OF the savings banks state
banks OF deposit and discount, trust companies and
safo deposit companies amounts to 1868, 759, 1913.
This Is an increase of SzS3 OO0O 900 in the last
five wears. There thirty counties of the state
in which there savings banks. The total num-
Der OF active banks in the other counties IA TO- Tho
total oil the savings banks OF the State Janu
airy /, 1897 were sos, 27G.eG7 January !, 1856,
they 1914. 536633 net Increase tor the year
OF $}3 74O, 1884 The growth of the savings nstitu-
tons the State IA shown by comparison with their
reports made oi 1870. On January J. 1871, the
aggregate OF the savings banks then IN exist
enoe $2i5 l77 the increase in the resources
OF the banks during the last sixteen years has been
1929 lS5 800 than 13l per cent OF the total re-
sources of the savings bank, OF the State January l.,
1871, which date l47 savings banks were in exist
eDce. az
had loans outstanding ON bonds and mortgaees
amounting to 81 60 962 s75, and held Y275,O29 IA
at par values of the several classes OF stocks and
bonds In which by law they wee authorized 10 invest
savings institutions authorized to loen their avail
the pledge of either of the classes OF the
securities In which they authorized to invest The
total amount Of such loans January /, 1887. was
Ytf425, $50 at the beginning OF the preceding yea
Il was but So o49, 1872 The large increase Is the
suit of the operation OF amendment TO the Savings
Bank law made in 1875 on the recommendation OF the
superintendent The present estimated market value
of the real estate wned by the savings banks OF tho
State January |, 1897 was SS.O34,0O3. OF which
$3.50 27l represent the aggregate market value OF
savings bank buildings. The remaining amount Is tho
estimated market value OF real est to which has been
acquired through foreclosure proceedings. On Janu.
airy l. 1887. the savings banks held the sum OF
$50 20 9gs 10 cash and had $50 705, l22 deposited
with State and National banks or trust companies in
corporaed under the laws of this State The total OF
casL uninvested January l. 1887 ~ss $36.632, 40.
~ 81 tha ding wa
3d., 5O6. 40. Considering that deposits have In
creased 500 436 40 during the past year, IL Is re-
markaDly favorable showing, the superintendent
thinks that the increase in cash unnyested has not
been greater. Tho superintendent reports marked
increase deposits during the year aud believes that
u Is due in greet extent to the ealing OF on,ted
States per cent bonds the money received from their
redemption having probsb y. to considerable extent
been deposited with the savings banks
hold hv ,pe INK. January l. 1857 at market
values, the surplus OF the banks on that date was
$@5823, 800 At the beginning OF the preceding year
Il %77, 2s2 $40. The dividends or interest OF de-
posters OF savings banks tor 1856 amounted to
$l5,777,C22. During the past year sixty one OF the
savings bauka. with deposits III the aggregate OF
1892 700 800 paid to their depositors rates oil inter
est warning from three and one-haf to tour and ono
halt per cent. 80,
The su,,erintendc renews his recommendation
touching the mex ediency OF increasing the scope OF
Investments OF savings banks, AMI states that he ~
ale impart but meagre information concerning the
affairs OF most OF the fifteen failed savings banks sun
In the hands receivers TO the fact that many
OF such officers tail to comply with the pro, i-ons OF
law directing them make somi-sunua reports. Al
the beginning OF the present year nineteen trust loan
or mortgage companies reported to the department.
Their ports show ell that their aggregate losouroes
> IS, 800 o9o, IN increase of 2oo 6oo since
January 1, 1886. general law tor the organization
OF trust companies Ia in the Legislature.
The rcport concludes with careful presentation OF
tho subjects OF corporate and official searches aud tho
no sratIon of title land The opinion expressed
that the adoption OF the block system. so-Saliedi
would be most desirable reform III inc ino'nou "a
transferring title to land"